Her new office is the clearing-house for the White House’s economic debates, and helps the president to decide on strategy
Amid Washington’s formidable political machinery, at first glance the institution of thealso seems puny. It is young—founded a mere three decades ago—and has only 30 staff. But it is the clearing-house for White House economic debates, helping the president set strategy. It then co-ordinates departments in the implementation of policy. With power concentrated in Joe Biden’s White House, theMr Deese steps down at a natural time for a reshuffle, following midterm elections.
Legislative success stems from officials working together. But Mr Deese was consistently at the centre of things. “He had a commanding understanding of every issue,” reports Jason Furman, deputy director of the council under Barack Obama. Mr Deese worked with Republicans to secure the passage of the infrastructure bill and with Joe Manchin, an obstreperous Democratic senator, to enact the climate law.
Yet this legislative success did not always produce real-world success. The pandemic package contributed to inflationary pressure, which America is still struggling to rein in; the administration’s industrial policy has annoyed allies, who see it as protectionism. The task falls to Ms Brainard, an experienced policymaker, to see through the wide-ranging plans and to remedy missteps.
Her experience may help President Biden mollify allies concerned by his subsidies. As America’s top financial diplomat under President Obama, Ms Brainard worked well with other countries, a quality that will again be in demand. At the same time, she will also have a role in ensuring that America dodges calamity and raises the debt ceiling. With a background as both a central banker and a Treasury official, Ms Brainard is well placed to navigate the budgetary shoals.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Lael Brainard will take the reins of America’s economic nerve centreShe does so at a tough time
Read more »
Pastrana admits NASCAR Cup debut at Daytona 500 is "nerve-wracking".TravisPastrana hasn't raced a stock car at DAYTONA in 10 years, and that was in the Xfinity Series. But against all odds, he qualified for the DAYTONA500 and will make his Cup debut on Sunday: NASCAR
Read more »
World Cup star Aboubakar reveals what Ronaldo told him before Al Nassr exitVincent Aboubakar has revealed Cristiano Ronaldo tried to persuade him to stay at Al Nassr, following the Portuguese star’s arrival. The Cameroon captain, who had six months left on his contr…
Read more »
How To Move Your Digital Friendships Out Into The Real WorldMeeting an online friend in person can be nerve-wracking, but it'll be less so with this practical, affirming advice.
Read more »
Lael Brainard will take the reins of America’s economic nerve centreShe does so at a tough time
Read more »
How To Move Your Digital Friendships Out Into The Real WorldMeeting an online friend in person can be nerve-wracking, but it'll be less so with this practical, affirming advice.
Read more »